Campbell Soup (NYSE:CPB) Position Lessened by Vident Investment Advisory LLC

Vident Investment Advisory LLC decreased its stake in Campbell Soup (NYSE:CPB) by 28.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,979 shares of the company’s stock after selling 5,970 shares during the period. Vident Investment Advisory LLC’s holdings in Campbell Soup were worth $684,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Infusive Asset Management Inc. lifted its holdings in shares of Campbell Soup by 13.6% in the 1st quarter. Infusive Asset Management Inc. now owns 1,817 shares of the company’s stock worth $91,000 after purchasing an additional 218 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Campbell Soup by 1.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 15,621 shares of the company’s stock worth $712,000 after purchasing an additional 254 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Campbell Soup by 6.9% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 4,674 shares of the company’s stock worth $213,000 after purchasing an additional 301 shares during the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Campbell Soup by 6.3% in the 2nd quarter. Wedbush Securities Inc. now owns 5,919 shares of the company’s stock worth $270,000 after purchasing an additional 350 shares during the last quarter. Finally, ARGI Investment Services LLC lifted its holdings in shares of Campbell Soup by 1.3% in the 2nd quarter. ARGI Investment Services LLC now owns 27,955 shares of the company’s stock worth $1,274,000 after purchasing an additional 369 shares during the last quarter. 52.09% of the stock is currently owned by institutional investors and hedge funds.

Shares of CPB stock opened at $41.49 on Friday. Campbell Soup has a 1 year low of $40.05 and a 1 year high of $53.77. The stock has a market cap of $12.51 billion, a PE ratio of 12.61 and a beta of 0.58. The business’s fifty day moving average is $42.49 and its 200-day moving average is $45.64. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.51 and a current ratio of 0.93.

Campbell Soup (NYSE:CPB) last issued its quarterly earnings results on Tuesday, August 31st. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.08. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Campbell Soup had a return on equity of 30.73% and a net margin of 11.82%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. Equities research analysts predict that Campbell Soup will post 2.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Investors of record on Thursday, October 7th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, October 6th. Campbell Soup’s payout ratio is 49.66%.

Campbell Soup declared that its Board of Directors has initiated a share buyback program on Wednesday, September 1st that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.

Several brokerages have weighed in on CPB. Bank of America cut their target price on Campbell Soup from $45.00 to $42.00 and set an “underperform” rating on the stock in a research note on Thursday, September 2nd. Citigroup cut their target price on Campbell Soup from $47.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 5th. Morgan Stanley cut their target price on Campbell Soup from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday, September 2nd. Jefferies Financial Group began coverage on Campbell Soup in a research note on Wednesday, September 1st. They set a “hold” rating and a $45.00 target price on the stock. Finally, Zacks Investment Research raised Campbell Soup from a “strong sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research note on Tuesday, August 10th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Campbell Soup currently has an average rating of “Hold” and an average target price of $46.64.

Campbell Soup Company Profile

Campbell Soup Co engages in manufacture and marketing of convenience food products such as soup, simple meals, snacks, and healthy beverages. It operates through the following segments: Meals and Beverages, and Snacks. The Meals and Beverages segment includes the retail and food service businesses in the U.S., Canada and Latin America.

Further Reading: What does a dividend yield signify to investors?

Want to see what other hedge funds are holding CPB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Campbell Soup (NYSE:CPB).

Institutional Ownership by Quarter for Campbell Soup (NYSE:CPB)

Receive News & Ratings for Campbell Soup Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Campbell Soup and related companies with MarketBeat.com's FREE daily email newsletter.